Mazama Energy Raises 135 Million Dollars to Drill Three Miles Down for Geothermal Power
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Mazama Energy Raises 135 Million Dollars to Drill Three Miles Down for Geothermal Power
The energy story that keeps getting overlooked is finally starting to get the funding it deserves. Mazama Energy, a geothermal startup backed by Vinod Khosla's firm, has closed a 135 million dollar funding round to push deeper into what the industry calls enhanced geothermal systems, specifically the kind that tap superhot dry rock three miles underground.
Key Takeaways
- Mazama Energy raised 135 million dollars in a funding round backed by Khosla Ventures
- A single superhot rock geothermal well can generate approximately 15 MW of electricity continuously
- Mazama drills roughly three miles underground to reach hot dry rock using technology adapted from oil and gas drilling
- The US Department of Energy's Enhanced Geothermal Shot programme targets a 90% cost reduction for EGS by 2035
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